Utah’s consumer sentiment slipped 8.4% in October, according to the Zions Bank Consumer Sentiment Survey. This decrease — from 80.1 in September to 73.4 in October — is statistically significant. A similar survey conducted by the University of Michigan reported that sentiment fell 2.7% among Americans as a whole during October.
“Utah’s consumer sentiment dropped more than the national average in October,” said Robert Spendlove, senior economist at Zions Bank. “However, over the past year, Utah’s decline has been far less severe — 9% compared to a 24% drop nationally. Utahns continue to show stronger optimism about the economy than consumers across the country.”
